Latest / Mortgage Marketing Radio / Ep #111: How Homebot drives Repeat and Referral Business by Helping Your Clients Build Wealth
Transcript
- 0:00In today's highly competitive mortgage industry, building profitable relationships with
- 0:04the real estate agents is essential for success.
- 0:06However, finding effective ways to secure agent relationships can be a challenge.
- 0:11With so many mortgage loan originators vying for the attention of real estate agents, it
- 0:15can be difficult to stand out and establish meaningful connections.
- 0:20Our new case study featuring loan officer Chris Cogill is a must-read.
- 0:25Chris has closed a remarkable 36 million in funded loans from agent referrals.
- 0:31And in this case study, he shares his proven strategies for building strong relationships
- 0:34with real estate agents and leveraging those relationships to drive more business.
- 0:39To get your hands on this resource, head over to LOKestudy.com and download your free copy
- 0:45of the case study today.
- 0:47You'll find actionable insights and practical tips that Chris used to close 36 million
- 0:52in funded loans from agent referrals and how you can too.
- 0:56Don't miss out.
- 0:57Go check it out right now, visit LOKestudy.com and download your free copy today.
- 1:17Hey listeners, Jeff Zimper, thanks for tuning in to this episode of the mortgage marketing
- 1:38radio podcast.
- 1:40So welcome.
- 1:41We're getting back at it by the time you're listening to this.
- 1:43It is probably if not already March entering in March, you know what that means?
- 1:49We're under in Q1, the first quarter of 2019 and the question always is, we need to do
- 1:56a look back.
- 1:57Where are you at?
- 1:58You're on track.
- 1:59Are you where you thought you'd be?
- 2:00And in terms of achieving your goals, have you implemented and stayed consistent?
- 2:03Have you stayed true to yourself with the habits and systems and daily and weekly actions
- 2:08required to be that person that you need to be to achieve the goals that you've set
- 2:13for yourself?
- 2:14I hope so.
- 2:16And as always, we're here to help you if at all you're interested in more help, meaning
- 2:19how do you succeed more efficiently, more effectively with real estate agents?
- 2:23How do you develop a personal brand?
- 2:26How do you engage with consumer direct online, Facebook, Instagram, YouTube, socials?
- 2:31How do you get started with video marketing?
- 2:33Run Facebook Gads.
- 2:35We've got a place for you.
- 2:36It's called the marketing program.
- 2:37You can check it out at mortgagemarketing.pro.
- 2:39We recently hosted one of our private coaching calls this past week in our private Facebook
- 2:43group.
- 2:44And I just got to give a shout out, I'm going to be trying to do this every single week,
- 2:47just to acknowledge people for taking consistent action because that's really what it's all
- 2:50about.
- 2:51So my shout out this week is to Ben Barrett, loan officer who is getting started in kicking
- 2:57off classes this year with Asian classes.
- 2:59He's already got his second one scheduled for March.
- 3:02He did his first one in February called Disruptor Die, 48 agents attended in a snow storm.
- 3:08And we talk about a lot of cool things that agents love in there.
- 3:11One of those is Alexa Flash Briefings.
- 3:14And you'll hear more about Alexa Flash Briefings coming from me shortly as I do have my own
- 3:18Flash Briefing, which if you have an Alexa device, you can simply say Alexa enable mortgage
- 3:22marketing radio.
- 3:24And that will turn my Flash Briefing on for you.
- 3:27But back to Ben Barrett, right?
- 3:28He took action, hosted a class, blew the socks off it, 48 agents in a full blown snow
- 3:34storm.
- 3:35One of the top 10 agents in his local city ordered Amazon Echo dots during his presentation.
- 3:39Two real estate offices called them afterwards and said, Hey, can you present that class
- 3:43to our entire office?
- 3:45And if that wasn't enough, Ben received a loan application from one of the attendants
- 3:49in attendance, whose bio rose already prequalified with a competing lender.
- 3:53I mean, folks, I've been preaching for a long time now about the acceleration and speed
- 3:58with which the no like and trust factor happens when you're in person, belly to belly, toe
- 4:02to toe, teaching classes, adding value, teaching agents to fish.
- 4:07That's why you'll catch me saying that the number one way to quickly and easily add more
- 4:11realtor relationships and referrals to your pipeline is by teaching agent classes, valuable
- 4:18agent classes like the one I just described to you.
- 4:20So kudos to you, Ben Barrett.
- 4:22We got a mortgage marketing radio t-shirt ordered up and in queue for you ready to send
- 4:27out to your way so you can display the swag properly.
- 4:30All right.
- 4:31I also have to let you guys know that starting in 2019, I have joined forces with drum roll,
- 4:38please.
- 4:39How's that for a drum roll?
- 4:40Not that good.
- 4:41I need a better drum roll.
- 4:44The industry syndicate.
- 4:45What is the industry syndicate?
- 4:46It is real estate's first media network.
- 4:50One stop shop.
- 4:51If you want to go one place to get access to whether it's real estate or mortgage, right?
- 4:55You need to go check out industry syndicate.com and I'm cool with that because you know what?
- 5:10That's say that the average podcast listener listens to on average six different podcasts
- 5:14per month and they rotate back and forth in between and I know that's for me too.
- 5:18So I don't know when I'm catching you.
- 5:20Maybe you're a long time veteran been with me now for three years.
- 5:22That's all I've been doing this or maybe you're brand new.
- 5:25And if you are, thank you for being here.
- 5:27Thank you for coming back and there's other good resources of information out there and
- 5:31you can find them all at the industry syndicate.com.
- 5:35So check that out.
- 5:36All right.
- 5:37So on to my special guest this week, we're doing something a little bit different in that.
- 5:40I hosted a Facebook live on my Facebook page at mortgage marketing institute and we brought
- 5:45in a few special guests.
- 5:47So our special guests for this episode of mortgage marketing radio are three people.
- 5:54Let me briefly tell you who they are.
- 5:56First of all, my good friend Todd Bookspan founder of win by noon.
- 6:00Hopefully you know him.
- 6:01If not, check out winbynoon.com all about how to win the day by noon.
- 6:05And of course, he's a key part of the mortgage community there as well.
- 6:09My other special guest is Ashley Miller, who is in biz dev with home bot.
- 6:15We're going to talk about home bot.
- 6:16But then we also have a special guest Jared Hamilton, who is a top producing mortgage loan
- 6:20originator that is talking about how he leverages home bot to drive more deals from his past
- 6:27client database as a way to stay engaged.
- 6:29They connected to be aware of when they are active or considering being active in the market.
- 6:35And this has given him great awareness and connection into his past clients as also using
- 6:41home bot as a tool to more effectively partner with real estate agents to generate new listings
- 6:45and repeat business.
- 6:47And it's just an incredible tool that I've looked at.
- 6:49I know a lot of other top producers are using because it's very hands off, if you will,
- 6:54non-threatening for clients and engaging.
- 6:59And so I'm just a big fan of home bot from what I've seen so far.
- 7:02And I encourage you guys to listen to the podcast.
- 7:05So check it out.
- 7:06As a matter of fact, one of our, another shout out, one of our mortgage marketing pro members.
- 7:09And that is Michelle Farman, auto who is once again president's club winner, top 1% of originators
- 7:14in the country uses home bot to, she said, gets an additional two to three deals a month
- 7:19that she wouldn't otherwise get because of home bot.
- 7:22So it'll be links to the show notes and all that stuff you want to go check out home bot.
- 7:26It is home bot.
- 7:27That's h o m e b o t dot a i home bot dot a i go to the website, check it out, watch some
- 7:33videos and you'll be likely to want to take the next step besides that it's so dog going
- 7:39affordable for you.
- 7:40If all you do is generate one to two loans a month, it is an absolute no brainer to add
- 7:45value to your clients and also to create a sticky relationship with your realtors to
- 7:51more effectively partner with them.
- 7:53So with that said, folks, let's get into this week's show.
- 7:57OK, so let's do around the horn here, quick introductions, I'll start from whatever it
- 8:03is.
- 8:04Top left of my viewing screen, Todd Bookspan, everybody should know who you are.
- 8:08But for those that may not, who are you, what do you do?
- 8:11Oh my gosh, I am Todd Bookspan and everyone shouldn't know who I am.
- 8:15My last title right now is the founder of Wind By New, which is sales and productivity
- 8:21platform.
- 8:22We've got about 2,500 subscribers between primarily loan officers and real estate agents as well
- 8:26as insurance and executives.
- 8:28And I spent 17 years in the loan officers doing what you guys are doing, running the $100
- 8:33million team.
- 8:34My last year I produced was about 100 years ago, over 550 loans for about 114 million
- 8:40and change.
- 8:42And I'm excited to be here to talk about something that I think is a pretty cool, awesome product.
- 8:47Oh, and I just wanted to give a little plug.
- 8:50There it is.
- 8:51I got my Wind By New loan officer edition, my real estate edition.
- 8:55So if anybody's watching this live replay listening on the podcast, go check out, is it
- 8:59windbynewnd.com?
- 9:00Windbynewnd.com.
- 9:01There you go.
- 9:02Awesome, man.
- 9:03If you want.
- 9:04There we go.
- 9:05Ashley, what's up?
- 9:06Tell us all about you.
- 9:07All right.
- 9:08So I recently launched Homebot in Arizona in July.
- 9:15And Homebot is a computer software artificial intelligence program, which sounds really super
- 9:22fancy, but really it's a financial dashboard that we deliver to consumers through their
- 9:27real estate agent and or their lender.
- 9:31Awesome.
- 9:32Cool.
- 9:33And we are hopefully expecting a special guest, Gerald Hamilton, who's a loan officer who's
- 9:38going to come here and tell us a little bit about his experience.
- 9:41And obviously we're going to try and bridge Jared in here in just a moment.
- 9:44So all right.
- 9:45Once again, Jeff is in for Morgan's Marketing Radio podcast.
- 9:47Thanks for tuning in.
- 9:48We're doing something a little bit different on this episode.
- 9:50If you're listening to this on the podcast, it's coming from a Facebook live that we did.
- 9:54If you didn't, if you're listening and you want to see the video, go over our Facebook
- 9:57page or the podcast community group on Facebook, Morgan's Marketing Radio.
- 10:03Okay.
- 10:04So Ashley.
- 10:05Yes.
- 10:06You know, I told you the question I was going to ask you, let's start with the first part
- 10:10of it.
- 10:11What does Homebot do?
- 10:13So Homebot delivers a monthly financial digest to consumers and it ranges anywhere from
- 10:19the property value, the amount of equity they have in their property, what their options
- 10:24are with their equity positions.
- 10:26So if they're refinancing, paying off debt as student loans, as well as if they had
- 10:32the capability of using that equity to potentially purchase a rental property or an investment
- 10:37property.
- 10:39And it also allows them to see with their current property if they can Airbnb it and
- 10:44VRBO because you know everyone right now wants to somehow put their home or make money
- 10:51off their home.
- 10:52So it's an amazing tool that delivers this type of information that truly empowers your
- 10:58clients.
- 10:59So if a real estate agent or a lender delivers this to their clients, it's almost as if you
- 11:05guys are no longer lenders and real estate agents, you're almost like their wealth managers
- 11:10or their financial advisors for their property.
- 11:14So how does that work then?
- 11:16I get a sign up right, I do a purchase transaction for somebody, take me from the point of
- 11:20purchase transaction, how are loan officers integrating this into either pre or post sales
- 11:25process?
- 11:27Okay, so when they actually a loan officer decides to become part of home bar, they would put
- 11:33their clients information into the system, very simple, the owner's names, their property
- 11:38address and their email.
- 11:40We pull all of that data from public record and then we deliver it on behalf of the loan
- 11:46officer and real estate agent to the consumer.
- 11:49So kind of similar to, you know, a lot of people are out there, they're trying to find
- 11:54different ways to get in front of their clients and give them true value and keep top of
- 12:00mind.
- 12:01But with home bot, you just put your clients in there and we take care of everything
- 12:04else for you.
- 12:05Got it.
- 12:06Okay.
- 12:07And what's the communication?
- 12:10It's over email.
- 12:11It's a once a month.
- 12:12You control the cadence.
- 12:14Yeah.
- 12:15It's the email.
- 12:16It is once a month.
- 12:17And the really cool part is they can save it on their phone as if it's an application.
- 12:22Now it's not an app that they can download perhaps from the app store.
- 12:27But once they, once they open it in Safari on their phone, they can go to that little
- 12:30button that says, save to your screen and they can log into it as many times as they want
- 12:36just by clicking on their app.
- 12:38Okay.
- 12:39Awesome.
- 12:40Thank you for that setup.
- 12:41I can see we've got our other special guest, Gerald Hamilton.
- 12:44What's up, man?
- 12:45How are you doing?
- 12:46Sorry for the technical difficulties there.
- 12:48Hey, you weren't the only one having them.
- 12:50Trust me.
- 12:51All right.
- 12:52That's how it goes using these new platforms.
- 12:55All right.
- 12:56So we'd love to hear from you, Gerald, you know, brief bio intro, who you are, what do you
- 13:00do?
- 13:01And start there.
- 13:03Yeah.
- 13:04Well, my name is Gerald Hamilton.
- 13:06I'm with Cherry Creek Mortgage and I'm a loan officer here in Denver, Colorado.
- 13:11And so I just, you know, like probably most of the other people watching here just trying
- 13:15to help people get a great loan and get into new homes.
- 13:20And I've been on Homebot for about two years now.
- 13:24It started in the Denver market, I believe.
- 13:26And so we've been on this platform for a while.
- 13:30I love it.
- 13:31And I think my clients do too.
- 13:33Awesome.
- 13:34So thank you for being here.
- 13:35I know you're busy.
- 13:36Let's cut right to that of two years.
- 13:38So you sound like an early adopter with the technology.
- 13:42If you had to describe like the biggest impact Homebot has had for you either on the consumer
- 13:46or realtor side or both, why do you use it?
- 13:49You'll love so much about it.
- 13:52Well, you know, first of all, my clients seem to love it.
- 13:54So if they love it, I love it.
- 13:57It's been, you know, when I first saw the technology, I thought it was really cool in that,
- 14:02you know, everybody is going to Zillow to try to get an idea of values.
- 14:06Everybody's interested in property values.
- 14:09And so this was a way for me to be able to communicate value information to my client
- 14:16base on a regular basis.
- 14:19And in addition to that, there's, you know, some interactivity with the Homebot system
- 14:24that they could use and play around with.
- 14:26And it just seemed actually, you know, cool.
- 14:28So I figured that I would, you know, give it a try with my client base.
- 14:34And my clients, you know, seemed to love it.
- 14:36There's been a lot of enhancements that Homebot has done since I started in the system,
- 14:44which has made it better.
- 14:45And frankly, I don't, I don't really haven't gotten super familiar with all of the enhancements.
- 14:51But for me, it was just, you know, we could download our database.
- 14:53It was kind of a plug and play.
- 14:55And immediately after these went out, I was getting feedback from my clients.
- 15:00They were asking questions.
- 15:02They were able to get in there and kind of get an idea of how much equity that they actually
- 15:06had and what that could do for them.
- 15:09So just really created some stickiness and some back and forth.
- 15:13That worked out, you know, fantastic.
- 15:16When it came to the real estate agents, you know, then we were figuring out, okay,
- 15:19well, how do we, I thought real estate agents would also love this type of technology.
- 15:25Sorry about my phone there.
- 15:27So where they could do the same thing.
- 15:29Paul lead, Jared.
- 15:31What?
- 15:31It's probably a Homebot lead calling.
- 15:33There you go.
- 15:34Yeah.
- 15:35Right.
- 15:36Well, and honestly, most of the communication really is just via email.
- 15:40I mean, I'm getting a lot of these notifications from Homebot late at night, you know, when people
- 15:45are sitting there, probably in front of their computer and, you know, that's the report
- 15:52of the number one time that most people are searching for homes and looking for values
- 15:57at two o'clock in the morning.
- 15:59Yeah.
- 16:00It doesn't surprise me because I get these things kind of late, get them in the morning
- 16:04and then, you know, interact with the real estate agents.
- 16:07You know, we just also, it's a great tool that we can use to at least engage in conversations.
- 16:14Let them know that we have tools here to add value, try to let them know the importance
- 16:20of as opposed to their clients going to Zillow and then start poking around there and asking
- 16:26other real estate agents information about that that this gives them a platform to where
- 16:31they can kind of keep their clients in a little bit of a bubble and talk to them about
- 16:36that information.
- 16:38I've had some challenges with the real estate community that I could kind of at least relate
- 16:43to you in that regard, but it's still a great widget and a great tool.
- 16:49Wow.
- 16:50That's a lot in there.
- 16:51Thank you very much.
- 16:52And I'm actually looking at some screenshots right now and considering bringing that up
- 16:54as a screen share here in Homebot to give those that are watching kind of a visual representation
- 16:59of that.
- 17:00So how do you, how do you then enter the conversation of Homebot with your clients, Jared, at one
- 17:08point, are you, you know, offering that as part of right mortgages and their management
- 17:12and things like that?
- 17:14Well, the first really communication that I had with my client base, and I, we have
- 17:21about 2,000 people that I go households that I've done loans for over the years have been
- 17:26doing this for about 26 years.
- 17:29So we just loaded them in the database and we just, we, I've created, well now Homebot
- 17:34has a introduction email that wasn't available when I started doing it, but we just sent
- 17:41out an email, let them know that they'd be receiving this.
- 17:45This is a new platform.
- 17:46It's a free service that we're offering as part of our value that where you want to add
- 17:52to, you know, use as a customer.
- 17:55And we just plug and play and just, and just let it go.
- 18:00We started incorporating the Homebot discussion when we are doing annual mortgage reviews.
- 18:08So as part of our annual mortgage review, when we talk about value, you know, ask them,
- 18:14you know, how do you, you think values are doing in your area?
- 18:18We'll then talk to them about Homebot, ask them, you know, have you seen those emails?
- 18:23Not everybody, you know, sees them.
- 18:25It, email, we all get a lot of email in today's day and age.
- 18:29So I can't say that every one of my clients says, oh yeah, I, you know, I see that every
- 18:35month.
- 18:36There's some that don't, but then we, you know, let them know about it, talk to them
- 18:39about it, and those that do see it, you know, they, they really like it.
- 18:43But we'll, we'll incorporate that into our annual mortgage review.
- 18:47Interesting.
- 18:48So you're not in, you know, bringing it up, you know, because I know you, obviously,
- 18:51you referenced mortgage coach, right?
- 18:52So it sounds like you're a mortgage coach user.
- 18:54Is that right?
- 18:55Yes.
- 18:56Okay.
- 18:57Awesome.
- 18:58So I know there's a lot of, you know, training and dialogue around mortgages undermanagement
- 19:00and, you know, with differentiates you as a mortgage professional is, you know, you
- 19:03want to help them manage the biggest that they've probably ever taken on.
- 19:06So this is not the end.
- 19:07It's the beginning.
- 19:08Right.
- 19:09So I was curious that, you know, when you introduce that Homebot into that kind of overall
- 19:15mortgages undermanagement conversation, I heard you correctly.
- 19:18You say it usually happens at the end of the, is there like a handoff conversation with
- 19:22that or maybe I'm giving you an idea.
- 19:23I don't know.
- 19:24Yeah.
- 19:25Well, and Ashley, you know, Todd and I've talked about this a little bit, but and Todd's
- 19:32talking about how to really get right with, with Homebot.
- 19:35So I'd love to learn about this, but, you know, and how to incorporate it better.
- 19:41But really, we don't put them on home, I mean, we don't put them on Homebot until maybe
- 19:46six months after the sale is complete.
- 19:50I'm not really talking to them about, hey, guess what?
- 19:54You're going to get this, you know, again, how we've incorporated it was.
- 19:58We had this service, we dumped our database into it and we sent the initial email and then
- 20:03boom, we were off and running.
- 20:06There was a rocket science to it.
- 20:09All right.
- 20:10Does that tee up Mr. Todd Bookspan for any input?
- 20:13Best practices?
- 20:14All right.
- 20:15Well, I'll give you a couple of ways inside.
- 20:17So I have inside it to Jared's business because he and I have been good friends for over
- 20:21a decade and I actually served as one-on-one coach for the last two years.
- 20:26And what I saw over that time is actually a few producers in Colorado who were part of
- 20:30the early adopter crew.
- 20:31And so it was interesting for me to be able to observe how they were implementing it
- 20:34to their business.
- 20:36And so, you know, I have the observation into it a few ways, certainly through clients like
- 20:42Jared, who I, well, I'm not doing one-on-one coaching anymore, who I coached in the past
- 20:45as well as the fact that although I'm not involved in the day-to-day of our team, our team
- 20:49also has over 2,000 closed transactions inside of Homebot.
- 20:54And so when we implemented it based on what I saw, Jared and others doing, it's become
- 21:00the easiest way to create engagement with clients that I've ever seen.
- 21:04And anyone who's seen me speak about when, by noon, whether I'm talking to realtors
- 21:08or I'm talking to loan officers, I believe two foundational elements are to be what Jared
- 21:12has become, which is the trusted advisor by doing annual mortgage reviews using mortgage
- 21:16coach.
- 21:17And, you know, number one thing you need to know is what's an accurate value.
- 21:21Secondarily, I'm teaching realtors that when I'm talking to a room of realtors, I always
- 21:25ask the question, hey, why do your clients go online to look at real estate sites?
- 21:28And then nine out of 10 people shout out to look at home value.
- 21:32And I say, well, awesome.
- 21:33So if they're going online to get home value, then who do they see as the home value expert,
- 21:37that website or you, then they all go really quiet.
- 21:39And so I believe from a foundational perspective, I've been teaching now for 18 months for realtors
- 21:44to be doing real estate reviews.
- 21:45And what I found is is that if they use Homebot as a tool to support that, now you've got
- 21:52values getting emailed in this home digest to your clients every month and absolutely creates
- 21:57engagement.
- 21:58And what Jared alluded to is I created a tool on five ways to increase your client engagement
- 22:04and Homebot is one of those, is the added tool.
- 22:07So it's five ways to increase engagement than I threw in a tool to free-class thing
- 22:13that I threw together.
- 22:14But the key that I would tell you is, is that really from a statistical perspective.
- 22:19So I jumped into my team's homebot yesterday when I was prepping for the call.
- 22:23And last month, over 2,000 digests were sent out and it says 1,400 emails were open.
- 22:29But we all know email open numbers are focused, right?
- 22:32People just put them through their phones and sometimes their mail service opens it up.
- 22:35But what was the critical statistic was that over 1,000 people actually clicked on the
- 22:39email and went in the open to the website of the home digest as Ashley was talking about.
- 22:44And so over 50% of the people who received it actually engaged with the product.
- 22:49And the fact that it's creating that engagement, you can see who actually opened it up.
- 22:53So it gives you a reason to call.
- 22:54If it was you, Jeff, I could call you and say, gosh, Jeff, hey, just checking in to see
- 22:57how you're doing, knowing that you just looked at it.
- 23:00And then it also, as Jared said, it has these other engagement points and things.
- 23:04So they can run a little scale of how much extra principle they want to pay and how much
- 23:09faster they'll pay off their home.
- 23:10It does show them based on natural average rates, what they could say, but they were to
- 23:15do a refinance.
- 23:16It does show them how much buying power they had if they wanted to go buy a new house.
- 23:19It does show as Ashley said, how much they could rent their home for.
- 23:22And so it's creating all these different engagement points.
- 23:25And she mentioned the artificial intelligence.
- 23:27So if you have mortgage insurance that says, hey, do you want to know more about how
- 23:30to get rid of your mortgage insurance button, notifies a loan officer.
- 23:33Hey, I want to learn about getting rid of mortgage insurance.
- 23:36And the funniest thing that Jared told me yesterday was that sometimes people say I accidentally
- 23:40hit the button, right, Jared?
- 23:41And then yeah, he says it happens all the time.
- 23:45And they're still calling the client and creating engagement.
- 23:47So the bottom line is this is I find that loan officers and real estate agents are always
- 23:51looking for a reason to call people.
- 23:53And what Homebot does is it gets some people to raise their hand, which is super cool.
- 23:57And it also shows you who didn't raise their hand, but who's looking in the background
- 24:01so that you can be keeping in communication with those folks.
- 24:05And then also the flip side, I know that there's over a thousand people that my team should
- 24:10be reaching out to aren't opening it to find out, are you getting it?
- 24:12Is it going into your spam?
- 24:14Are you not reading it?
- 24:15Did you not find value?
- 24:16Again, it's creating a different engagement point.
- 24:18And so that's kind of not just super excited about something that makes it really easy for
- 24:23people in our industry to go out there and get more business.
- 24:27And then the last thing I'll say and then I'll shut up is the realtor piece is interesting
- 24:32because you have to take the time to ask them the right questions to see how they'll value
- 24:36Homebot.
- 24:37But the bottom line is is they need a reason to engage with their clients.
- 24:40They need a reason to be the home value expert.
- 24:42And every once in a while they say, but yeah, none of those online sites are accurate.
- 24:45And I say, well, that's the point.
- 24:46You know that they're not accurate, but your clients don't they keep going there.
- 24:49And so when you get a Homebot home digest, it actually says verify the value.
- 24:54So it asks for a CMA gives the loan officer a reason to reach out and reconnect them with
- 24:59their realtor.
- 25:00If they're working with the realtor gives them the reason to introduce them to one of their
- 25:03favorite realtor is if they don't know who their realtor was.
- 25:07And it helps the realtor and the client and you as their loan officer determine what
- 25:12is the accurate value today.
- 25:14And you created this new conversation on going just like the annual mortgage review to do
- 25:18this annual real estate review.
- 25:20And I really take Jared and Todd and put them in my pocket and take you guys everywhere
- 25:25with me.
- 25:28Just speaking the truth, super awesome.
- 25:31And I recently looked up Todd's your engagement rate and your engagement rate is almost
- 25:36at 70%.
- 25:37So that's not your open rate, but it was like 68.9% of the people that have opened it.
- 25:44They're actually continuously being engaged, which is pretty awesome.
- 25:47I don't know if there's any other system out there that has that high of an engagement
- 25:51rate.
- 25:52Well, a perfect example is because it spreads them out over, they don't all go out at
- 25:55one time.
- 25:56And so they spread out.
- 25:57And so my wife runs the team.
- 25:59There was three leagues that came in over the weekend.
- 26:01Somebody wanted a CMA compared to market analysis, loan officer sent that off to their
- 26:05realtor.
- 26:06There were two people who wanted to trade up, right, meaning that they wanted to look
- 26:10at buying a different house.
- 26:12And one of them was our longest loan officer on the team, our top loan officer.
- 26:16So that came in on Sunday.
- 26:17He got the lead from my wife, he reached out to him yesterday or Monday, had him pre-approved
- 26:23to go out reshopping by the afternoon.
- 26:25I mean, that created engagement that, who knows if that hadn't gone, if that client would
- 26:30have remembered that Mick was their favorite loan officer and called.
- 26:34And in this case, not only was Mick, now the favorite loan officer, he was also able
- 26:38to make sure they hadn't actually reached out to their realtor yet.
- 26:40So it's just one more tool in your belt.
- 26:43I just think 2019 is all about client engagement.
- 26:46And so, I don't know, I guess at some point, maybe Jeff, it'll be appropriate.
- 26:50I, the new client engagement teaching that I did with Homebot built into it isn't, it's
- 26:55like 90% done, it'll be ready to rock and roll.
- 26:57But I could give out the website, people could jump in there, at least see the videos
- 27:00on the creating client engagement part, and then they want to look at the Homebot stuff
- 27:04they can as well.
- 27:05Yeah, man, if you're all you want to give out?
- 27:08It's just winbynoone.info, forward slash five.
- 27:12And like you say, you'll see, when you get there, it's like 90% done.
- 27:17And I have no excuses.
- 27:19My goal was to get one by this morning, and you know, life just sometimes is busy.
- 27:24And I got most of it done, but I actually created additional content while I was working
- 27:30on it, because I wanted to give more, and when I wanted to give more, then that just
- 27:34didn't quite get that.
- 27:36Hey, just to clarify in the URL, it's winbynoone.info, forward slash five.
- 27:40Right.
- 27:41You know what?
- 27:42It's either the number five or it's written out by the FIVD.
- 27:45Okay.
- 27:46I'm going to put that in the comments right now.
- 27:47So, Jeff, I make sure that I covered it either way, just in case someone couldn't
- 27:51remember.
- 27:52You're good, man.
- 27:53I'm not info thing.
- 27:55And it's, it's free.
- 27:56It sends you a link.
- 27:57So you got to look in your spam, if you don't see it, and then you get in there and
- 27:59it's got the five ways to increase client engagement in 2019, plus a tool.
- 28:05And then that tool is, is homebot.
- 28:07Wow.
- 28:08Love it.
- 28:09Love it.
- 28:10Yeah.
- 28:11So a couple, I just want to give a shout out to some of the people watching live.
- 28:12Thank you for participating and commenting, Jimmy Joseph.
- 28:15What is up?
- 28:16Caitlin.
- 28:17Yeah.
- 28:18Caitlin, Caitlin Shives here.
- 28:20She says she loves using homebot, and I wish we were to know that because I had Caitlin
- 28:24and her, her loan officer, she's a business development person for WC Ford, who's a big
- 28:29producer at Guild.
- 28:31We had her on podcast episode number 102, going deep versus wide with real estate agents.
- 28:35So Caitlin, shame on me for not knowing that.
- 28:39Love to know more from you about how you guys are leveraging that.
- 28:41And of course, Kenny, I see you asking about the URL.
- 28:44It's in the chat notes here, Kenny.
- 28:46It's winbynoons.com.
- 28:47Sorry.
- 28:48Winbynoons.info, forward slash five.
- 28:51What else we got here?
- 28:52Back later, if you get it today, check back in 48 hours and it'll be complete.
- 28:58Awesome.
- 28:59Awesome.
- 29:00So Caitlin says she just started using it within the last 45 days.
- 29:02Caitlin, if you want to throw in any comments of a kind of like short term, I know it hasn't
- 29:05been that long yet, but any client responses or support from that.
- 29:10We'll get back to our panel in just a minute because somebody, Andrea, she has a question.
- 29:15I think I know the answer, but I let you guys, actually I'll let you take this.
- 29:20Do you have to have a realtor partner to use it?
- 29:22No, absolutely not.
- 29:24As a loan originator, you can join the subscription solely on your own.
- 29:30I highly suggest that you do partner with realtors.
- 29:34It helps you one, close the loop between the real estate agent, the lender and the consumer,
- 29:41as well as it gives you an opportunity to partner with a realtor and their clientele as
- 29:46well, because when you do partner, you have the ability to put your information in front
- 29:51of all of their database.
- 29:52So when the realtor's consumers have questions, they get to reach out to the loan officer,
- 29:58which is amazing to be able to partner with a real estate agent where you have the ability
- 30:03to provide really powerful intelligent information to their consumers that as a realtor, they
- 30:09may not be able to answer and vice versa.
- 30:12I'm going to say one cool thing is, is in most markets, a realtor can't sign up without
- 30:16a loan officer.
- 30:17So that's also a pretty cool thing that Homebot's done as they put you guys in the driver's
- 30:20seat.
- 30:21Absolutely.
- 30:22Oh, really?
- 30:23That's good to know.
- 30:26Hey, I'm curious to know when I heard that naturally, my brain goes to the pricing.
- 30:31We don't have to talk specifics, but how does that work if a loan officer's kind of
- 30:37the gatekeeper?
- 30:38How does that work for pricing in local markets and bringing realtors on and stuff like
- 30:41that?
- 30:42Well, pricing wouldn't change based upon the market and pricing, of course, has to be
- 30:46respite compliant between the real estate agent and the loan officer.
- 30:50So when the loan officer signs on, they have the option to co-brand with a realtor and
- 30:56when you co-brand, they do have to pay their dollar amount and the real estate agent has
- 31:01to pay their dollar amount.
- 31:02Okay.
- 31:03Awesome.
- 31:04Jared, I want to tee you up for a second.
- 31:06I think you might be the best person to answer this question.
- 31:09I don't know.
- 31:10We can have somebody else take it as well.
- 31:12This is awesome.
- 31:13This is kind of like Hollywood Square and whatever.
- 31:15You can defer.
- 31:17But I was going to ask you how, because you made a reference earlier to the realtor conversations,
- 31:23how do you engage with the realtor?
- 31:25How do you tee up that conversation and what are you generally finding the response to
- 31:30this?
- 31:31Well, in every relationship, it's a little bit different, but what I try to do, if I'm
- 31:38meeting with a new real estate agent, I'll just find out about their business and get
- 31:44an idea of where they are in terms of their overall career.
- 31:50Homebot actually, in the Denver market here, has become something that most people now
- 31:55know about.
- 31:57So if they're being introduced, your homebots being introduced into other states, being
- 32:03an early adopter, by the way, is probably a pretty good thing.
- 32:09What we did in our office is we had a number of loan officers that were interested in
- 32:16doing this.
- 32:18And we just did a focus group.
- 32:19And so we were inviting the real estate agents actually in to our office.
- 32:25So we could do a longer presentation, because it's a difficult thing to kind of try to
- 32:32sit down one on one with a realtor and explain it to them.
- 32:37When you get a lot of people in a room, it makes it a lot more impressive, and you can
- 32:42take a little bit longer.
- 32:43So we just say that, you know, listen, we've got this amazing tool that allows you to
- 32:47interact with your consumers, it gives them their own website.
- 32:52So where they can monitor their value, their mortgage, and how to really bring that all
- 32:58together into their overall financial life, it's something you really should see.
- 33:02It's cheap.
- 33:03It's very price-effective.
- 33:06You can load your whole database in, and you know, we're doing this seminar and give
- 33:11the date.
- 33:12So we were introducing it in like groups that meeting so that way, we could really get
- 33:18into the guts of it, show them it, have all the questions and answers going, and introduce
- 33:23it to them that way.
- 33:25And we provide the tools as well for the loan officers.
- 33:30So we have decks for them, like PowerPoint presentations, we have videos, maybe we did
- 33:34it two years ago.
- 33:35No, you didn't.
- 33:36No.
- 33:37Right.
- 33:38We have earnings.
- 33:39So we have short little videos, we have long videos, we spend a lot of time, or at least
- 33:43I spend a lot of time out here in Arizona, educating loan officers on how to prepare their
- 33:49real estate agents to become a part of it, but honestly, real estate agents love it.
- 33:54They absolutely love it.
- 33:55I mean, they are now defining their actual position.
- 34:01So when they're done with that transaction, and they sold that house, what's happening?
- 34:06Most real estate agents, maybe they had a CRM, maybe they were sending a pumpkin pie recipe,
- 34:11I don't know.
- 34:12But now we're putting them in a position where they can deliver this intelligent, powerful,
- 34:17financial information, and they can partner with their favorite L.O.
- 34:21Jarrett or Todd.
- 34:22Well, one cool thing, too, because I was asking in Facebook about whether it's only one
- 34:25L.O.
- 34:26Yeah, you're the person that they see on their home, I just every month, and then the
- 34:32cool thing is, is that if your realtor signs up their client, and their client sees them
- 34:37as it's their home digest, but when they get down and ask any questions on the financial
- 34:41part, because it has the same stuff in there about, are you interested in paying off
- 34:45refinancing or interested in paying more principal, then that goes to the lender, and it gives
- 34:49you a reason to pick up the phone, call your agent, say, hey, this client that I didn't
- 34:54work with, it could have been from another lender who worked with them, are you okay if
- 34:58I provide them the information that they asked me for, and again, you're creating that
- 35:01teamwork environment with your realtor.
- 35:04So it's just, again, one more opportunity, I'm all about avoiding shiny objects, right?
- 35:09If you, you know, my big belief is keeping it simple, but this is something that is an
- 35:14opportunity that you at least need to explore, assuming that you can build in the time to
- 35:18do the follow-up.
- 35:19If you don't have the time to do the follow-up, then you probably have some other things
- 35:22you should look at first.
- 35:23However, from a customer engagement perspective, adding value, this is huge.
- 35:28Yeah, that's a good summary, guys, and you know, this is making me think of I'm doing a
- 35:31lot of work right now, and looking at real estate disruptors out there, right?
- 35:36The Zillows, like, where 180 million people go on average a month to view real estate.
- 35:43And one of the things that I'm learning on my research is that you guys kind of alluded
- 35:47to this, and this is why I think agents love it, Ashley, and Jared, you've experienced
- 35:50this, Kenny, as well, is agents finally, I think, are waking up to the proposition that,
- 35:55you know, your value is not in, you know, the MLS or the homes.
- 35:59That's long gone, right?
- 36:00So you're not the gatekeeper anymore, but the real value of a real estate agent now is there's
- 36:05a lot of data when it comes to buying and selling a home on the lending side as well.
- 36:09And people, what they want to do is they don't want to have to digest and understand that
- 36:12data.
- 36:13They want a professional to help them understand digest that data.
- 36:17And so that's what I see just on a surface level.
- 36:19One of the things that Homebot does is provide some really engaging, interactive data right
- 36:24on your mobile phone in an awesome mobile first way, you know, that really helps people
- 36:29digest and assimilate data based on the current value of their home, right?
- 36:34Are they right for a possible refi and things like that?
- 36:39Caitlin, she came back to me and said she's only had it for like 45 days, but her and Debbie
- 36:45found it a great way for her as a loan officer to stay in touch, stay in front of their
- 36:49clients.
- 36:50And they've also received several leads from clients about potentially refinancing or
- 36:55is another play using the Homebot data to show you, right?
- 36:59The power you've got now of equity if possibly, you know, a move up if that's the right
- 37:03time for you.
- 37:04Absolutely.
- 37:05I mean, we live in the age of connectivity.
- 37:08I mean, you see people, we're now wearing, you know, our Apple Watches around our wrist.
- 37:13We're tracking our fitness, we can track our phone time on our phone, we can track our
- 37:16monthly expenses.
- 37:17I mean, literally, there's an app for everything and this is truly one of a kind and an application.
- 37:24Again, it's not an app that you can download from the app store and I'm going to reiterate
- 37:27that because I get that question all the time.
- 37:30But it's an application where consumers can track or can keep connected and track what
- 37:37their equity position.
- 37:38I shouldn't just say equity position because not everyone have a ton of equity, but they're
- 37:41a financial position with their property and if they own multiple properties and multiple
- 37:47properties as well.
- 37:48Yeah, absolutely.
- 37:49All right.
- 37:50So, Jared, back to you real quickly.
- 37:51I know we're kind of getting the end of our time here together.
- 37:54The $64,000 question, putting you on the spot, right here, right down here.
- 38:00So I have to have to drum.
- 38:02I'm nervous.
- 38:03I mean, that's what I'm thinking.
- 38:06Right.
- 38:07You're in your next book, Span, deals you can track from Homebot for your agents.
- 38:14You know, I mean, that's a wonderful question and frankly, I don't have a number that I can
- 38:21put on it because when we track all our leads and I know that over 50% of my business actually
- 38:28comes from my database, you know, either customers or repeat customer referrals.
- 38:33So when we get, you know, a client and do their loan again, I'm not saying, well, it's
- 38:40just a repeat customer.
- 38:42So I don't know if it was Homebot that was the impetus for that.
- 38:48But what I do know is that again, it's creating engagement.
- 38:53It's something that my consumers like and talk about when I'm talking to them on the phone.
- 38:58It's working.
- 38:59And I know that, again, I don't know how many deals that is, but I know that when it comes
- 39:02to the refinance stuff, you know, people have said, well, let me know that they want to
- 39:08refinance and we immediately call them on the phone and we get it going.
- 39:11I don't track that.
- 39:12Okay.
- 39:13That was Homebot.
- 39:14It's just a repeat customer, but it's definitely making an impact.
- 39:18And I could tell even over this last year, you know, the industry was down about 30%.
- 39:23I think overall, my business in 2018 was also down, unfortunately, was down only about
- 39:314%.
- 39:32But my purchase business was way up.
- 39:34Now, there's other things that we were doing in that.
- 39:37And again, it's about 20 to 30% in 2018 and my purchase business was up.
- 39:43But I think somewhat attributable to that is that, you know, we're actively engaged with
- 39:49our consumers using Homebot as one of those tools as well as our annual mortgage review
- 39:54to really make sure that we're in constant communication with them and letting them
- 40:00know that we're, we have their back and, you know, we're, we're the information source
- 40:06that they need to go to when they're thinking about selling or buying new real estate or
- 40:11refinancing.
- 40:12Yeah.
- 40:13That's a great point.
- 40:14I'm going to come to you in a second, Todd.
- 40:15But it kind of piggybacks on what I was saying just a moment ago about even though people
- 40:19are still going to go online, right, the various destinations and portals and all that
- 40:22kind of stuff.
- 40:23The whole point is they may go on there to consume data, but we still want to bring
- 40:27them back to us, right, being, being that personal brand that they know, like, and trust.
- 40:31So I think that's what you're experiencing as a result of your engagement you've got
- 40:34built around your past clients.
- 40:36Good, good stuff.
- 40:37Todd, did you have something you want to add, sir?
- 40:39You know, I would just throw in a couple of things, right, the cost is low, I mean, literally
- 40:43like for a realtor, I think that the Homebot statistic is if you can close one deal in
- 40:48the first 30 days it pays for a Homebot for 20 years.
- 40:50So when you're, when you're talking to a realtor, I think it's really easy because the cost
- 40:54is so low for them for 500 clients to get them in there that it's, again, it kind of makes
- 40:59it a no brain as long as they understand how to use it.
- 41:02And I think ultimately in the end, I mean, if you're doing the right things as a loan officer,
- 41:07right, use Jared as your example, you're keeping in touch with your database, you're doing
- 41:10mortgage reviews.
- 41:11All you do, and it's just one more tool in the tool belt that makes it so that you're adding
- 41:15more value and you're helping eliminate some of the noise, you want your clients to see
- 41:19you as the expert.
- 41:20And if you just send them a postcard every now and then or you just send them an email
- 41:25every month that they hit the lead on, that's not really going to get you there.
- 41:28Think about engagement in 2019 would be all I would encourage people to do and just be
- 41:32crystal clear with the system to follow up with people to reach out to the ones who don't
- 41:37engage.
- 41:38Awesome.
- 41:39Well said.
- 41:40Thank you.
- 41:41Ashley, you want to close that out for us here on any last comments?
- 41:43You're up.
- 41:44Yeah.
- 41:45Yeah, no, absolutely.
- 41:46And I love everything that Jared and Todd were saying about your current database, but
- 41:50I also want people to keep in mind.
- 41:53You couldn't use this as a tool to engage with your your renters, you know, people who
- 41:58are looking to buy as well, we have a buyer's platform, that's a part of it.
- 42:02So it's amazing that we launched at the end of 2018.
- 42:07We are really trying to become one of the largest innovators in this whole AI world.
- 42:12In fact, we just won the 2018 Realogy Innovator of the Year, which was really awesome.
- 42:19So Realogy has our back and I recently got to speak at Inman with Brad Inman and Beverly
- 42:24Hills at the conference.
- 42:26So we're out there and in Jeremy and early adopter two years ago and still having two
- 42:33years later, still loving it and liking it.
- 42:35That's awesome.
- 42:36I'm really proud that I'm able to be part of a company that not only, you know, I
- 42:42always say we want to inspire, educate and empower and I truly feel like through home
- 42:47bot I'm able to inspire real estate agents and lenders to become more connected to their
- 42:52clients, educate them on how to connect them and then educate their consumers as well.
- 42:57So I'm proud to be part of home bot.
- 42:59I'm proud to have people Jared and Todd that love it just as much and are out there preaching
- 43:04about it.
- 43:05And it's amazing.
- 43:06Thank you guys.
- 43:07I really, really am super grateful.
- 43:10No, yeah, I agree with you 100%.
- 43:12And that's part of why I wanted to have you guys on is like, I had think I told you
- 43:15actually I actually got exposed to home bot.
- 43:17I don't know, at least six months ago or more and it's been on my radar for some time.
- 43:21And so kudos to you guys for getting the Realogy, Realogy, sorry, Innovator of the Year award.
- 43:26That's awesome.
- 43:27And you hang with Mr. Inman, never hurts to do that.
- 43:29Jim Striker, what's up?
- 43:31So for those who want more information about home bot, Ashley, what do you recommend?
- 43:34Where should they go?
- 43:35The easiest place to go is homebot.ai.
- 43:38Homebot.ai.
- 43:39Could be more simple than that.
- 43:41You have a demo there, I believe, which is probably the best way to make an evaluation
- 43:45on home bot is to watch the demo.
- 43:47Yeah, obviously watch the demo.
- 43:49You can schedule one on one or you can reach out if you're in Arizona.
- 43:53You can reach out to me personally.
- 43:55Awesome.
- 43:56Great.
- 43:57Listen, guys, I know you're incredibly busy.
- 43:58Thanks for being here.
- 43:59Everybody watching live.
- 44:00Thanks for tuning in live.
- 44:01If you're watching the replay, thank you to check all the links we're going to put in
- 44:05here.
- 44:06If you're listening to this on the podcast, hey, we know you'll love you too.
- 44:08There'll be links in the show notes and feel free to come on over to our Facebook pages,
- 44:12whether it's the Facebook page on Instagram, you know what I'm saying, mortgage marketing
- 44:16radio, Facebook page, or the podcast community on Facebook, check that out on our Facebook
- 44:20group as well.
- 44:21So once again, guys, thanks.
- 44:22Have a great day for being here.
- 44:23I appreciate it.
- 44:24Hi, guys.
- 44:25Thanks, Jeff.
- 44:26Take care.
- 44:27Bye for now.
- 44:28Thanks for listening to Mortgage Marketing Radio.
- 44:32On more truth in mortgage marketing, get more free training and resources at mortgage
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